Fjordland Exploration Inc. (CVE:FEX) stakes additional claims in the Athabasca Basin
Sean Mason | May 19, 2016 | SmallCapPower
A few penny stock shareholders benefitted from Athabasca Basin claims Thursday, while other investors soured on a biotech play. Here’s some small stocks making big moves on Thursday, May 19, 2016 (as of 4 pm EST):
Fjordland Exploration Inc. (CVE:FEX) shares jumped 57% to $0.055 on Thursday after the mineral exploration company said it has staked an additional 40,000 hectares of claims, for a total of 84,809 hectares, surrounding the DeBeers Canada and CanAlaska Uranium project in the northwestern part of Saskatchewan’s Athabasca Basin.
As well, shares of Oncolytics Biotech Inc. (TSE:ONC) sank 20% to $0.57 as the biotechnology company announced preliminary data from a randomized Phase II clinical trial of its lead product, REOLYSIN, in combination with FOLFOX-6 and bevacizumab (Avastin) in patients with advanced or metastatic colorectal cancer. The Company claims that REOLYSIN demonstrated an increase in the objective response rates in female patients and in patients with liver metastases.
FLYHT Aerospace Solutions Ltd. (CVE:FLY), meanwhile, reported that supplemental type certificates have been received for the Automated Flight Information Reporting System 228 on multiple aircraft types. FLYHT Aerospace stock moved up as much as 6% before ending unchanged at $0.175 following the announcement.
Finally, Critical Elements Corporation (CVE:CRE) shares continued to rise Thursday, up 6% to $0.425. On Wednesday, the resource project developer announced that it has entered into an agreement to sell 14 million common shares on a bought deal private placement basis at a price of $0.37 per share for gross proceeds of C$5.18 million.
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